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Hearing Set In Cbot, Cboe Trading Fight

December 19, 2000|By From Tribune news services.

The Chicago Board of Trade and Chicago Board Options Exchange, seeking to resolve a dispute over trading rights, will present arguments Jan. 19 before Illinois Circuit Court Judge Thomas P. Durkin. The CBOT is seeking a legal ruling that Phase 2 of its restructuring--a switch to a for-profit corporation-- does not jeopardize the rights of full CBOT members to trade at the CBOE. Earlier this year, the CBOE threatened to extinguish these rights if the CBOT reorganized, fearing that CBOT members could flood its markets under terms of the reorganization.